Cenovus Net Income From Continuing Ops from 2010 to 2026
| CVE Stock | CAD 25.57 1.11 4.54% |
Net Income From Continuing Ops | First Reported 2016-12-31 | Previous Quarter 851 M | Current Value 1.3 B | Quarterly Volatility 971.4 M |
Check Cenovus Energy financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Cenovus Energy's main balance sheet or income statement drivers, such as Depreciation And Amortization of 6.2 B, Interest Expense of 507.5 M or Selling General Administrative of 468.9 M, as well as many indicators such as Price To Sales Ratio of 1.2, Dividend Yield of 0.0244 or PTB Ratio of 1.78. Cenovus financial statements analysis is a perfect complement when working with Cenovus Energy Valuation or Volatility modules.
Cenovus | Net Income From Continuing Ops |
Latest Cenovus Energy's Net Income From Continuing Ops Growth Pattern
Below is the plot of the Net Income From Continuing Ops of Cenovus Energy over the last few years. It is Cenovus Energy's Net Income From Continuing Ops historical data analysis aims to capture in quantitative terms the overall pattern of either growth or decline in Cenovus Energy's overall financial position and show how it may be relating to other accounts over time.
| Net Income From Continuing Ops | 10 Years Trend |
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Net Income From Continuing Ops |
| Timeline |
Cenovus Net Income From Continuing Ops Regression Statistics
| Arithmetic Mean | 1,448,427,353 | |
| Coefficient Of Variation | 161.96 | |
| Mean Deviation | 1,815,443,945 | |
| Median | 744,000,000 | |
| Standard Deviation | 2,345,838,080 | |
| Sample Variance | 5502956.3T | |
| Range | 9.4B | |
| R-Value | 0.51 | |
| Mean Square Error | 4366107.3T | |
| R-Squared | 0.26 | |
| Significance | 0.04 | |
| Slope | 235,124,559 | |
| Total Sum of Squares | 88047300.8T |
Cenovus Net Income From Continuing Ops History
About Cenovus Energy Financial Statements
Cenovus Energy investors utilize fundamental indicators, such as Net Income From Continuing Ops, to predict how Cenovus Stock might perform in the future. Analyzing these trends over time helps investors make informed market timing decisions. For further insights, please visit our fundamental analysis page.
| Last Reported | Projected for Next Year | ||
| Net Income From Continuing Ops | 3.6 B | 3.8 B |
Pair Trading with Cenovus Energy
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Cenovus Energy position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Cenovus Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Cenovus Stock
Moving against Cenovus Stock
| 0.61 | NXR-UN | Nexus Real Estate | PairCorr |
| 0.6 | QNC | Quantum eMotion Corp | PairCorr |
| 0.5 | IE | Ivanhoe Energy | PairCorr |
| 0.43 | VM | Voyageur Pharmaceuticals | PairCorr |
| 0.39 | ENB-PFU | Enbridge Pref L | PairCorr |
The ability to find closely correlated positions to Cenovus Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cenovus Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Cenovus Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Cenovus Energy to buy it.
The correlation of Cenovus Energy is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cenovus Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cenovus Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Cenovus Energy can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Cenovus Energy Correlation against competitors. To learn how to invest in Cenovus Stock, please use our How to Invest in Cenovus Energy guide.You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.